Groupe SEB Reports Sales Results for the Fourth Quarter and Full Year of 2017; Provides Earnings Guidance for the Full Year of 2017
January 23, 2018 at 12:42 pm
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Groupe SEB reported sales results for the fourth quarter and full year of 2017. In the fourth quarter, the 24.1% increase in sales to €2,026 million.
The Group's full-year sales amounted to €6,485 million, up 29.7%, with organic growth of 9.2% (€462 million), driven primarily by volumes, and a currency effect of negative 2.0% (loss of €98 million, resulting mostly from the depreciation of the yuan, the Turkish lira, the Egyptian pound and the US dollar); the scope effect amounted to €1,195 million (WMF over 12 months and EMSA over 6 months for €1,151 million and €44 million, respectively) and the reclassification of Supor's marketing spend to €74 million.
The quality of 2017 provisional sales leads company to confirm and refine 2017 earnings guidance. Despite the unfavorable foreign exchange trends in second-half 2017, the Group is targeting an increase in Operating Result from Activity, before one-off impacts of WMF purchase price allocation, which will be comprised between 30% and 35%. This will lead to an accretion of the consolidation of WMF of over 20% on 2017 net earnings per share, before the impact of the purchase price allocation. The company expects income tax rate of around 20%, due to primarily 2 things. One is the U.S. tax reform and the second thing is the recovery, the reimbursement by the state of the 3% tax on dividends.
The world leader in Small Household Equipment, SEB S.A. relies on 35 flagship brands (Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, etc.) and a broad product portfolio:
- cookware: frying pans, saucepans, pressure cookers, utensils, etc.;
- small culinary appliances: items for electric cooking (deep fryers, rice cookers, pressure cookers, etc.), beverage preparation (coffee makers, kettles, etc.) or food preparation (blenders, food processors, etc.);
- small non-culinary household appliances: linen care equipment (irons, steam generators, steamers, steamers, etc.), vacuum cleaners, fans, and personal care equipment (hairdressing and depilation appliances, etc.).
At the end of 2023, the group operated 41 manufacturing sites worldwide.
Net sales are distributed geographically as follows: Western Europe (34.1%), Europe/Middle East/Africa (15.2%), China (27.9%), Asia (7%), North America (10.9%) and South America (4.9%).
SEB S.A. 
